PennyMac Loan Services, LLC Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

PennyMac Loan Services, LLC Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Virginia

I have been enrolled with PennyMac mortgage automatic ACH withdrawal and the bi-weekly payment program for several years. A bi-weekly payment of $1200.00 is withdrawn from my checking account at least twice but sometimes three times pert month. I went on vacation - 2016 and when I returned I noticed that PennyMac had failed to withdraw the normal bi-weekly payments from my account. No payments were made in the month of - 2016. This is in violation of our automatic ACH and bi-weekly payment agreement. I believe PennyMac intentionally did this so that I can not pay my mortgage off early and save by reducing interest charges over time. This is the third or fourth related CFPB complaint I have filed on PennyMac in the past couple years and nothing helps! PennyMac is using predatory lending practices and not honoring their auto ACH bi-weekly payment agreement I signed.

PennyMac Loan Services, LLC customer in Virginia
Mar 25, 2016

* Source: CFPB Complaint Database

PennyMac Loan Services, LLC response to complaint:
Closed with explanation

Consumer disputes how PennyMac Loan Services, LLC handled their complaint

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